Home|News| GCC:The introduction of a GCC-wide system of value added tax (VAT) is likely to have a significant impact on financial services

GCC:The introduction of a GCC-wide system of value added tax (VAT) is likely to have a significant impact on financial services

24 I 11 I 2016

The introduction of a GCC-wide system of value added tax (VAT) is likely to have a significant impact on financial services, particularly insurance-related businesses. It has the potential to seriously skew the cost base of the insurance industry.